Quantinno Capital Management LP Sells 168,672 Shares of Gentex Corporation $GNTX

Quantinno Capital Management LP lessened its holdings in Gentex Corporation (NASDAQ:GNTX) by 23.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 555,277 shares of the auto parts company’s stock after selling 168,672 shares during the period. Quantinno Capital Management LP’s holdings in Gentex were worth $12,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in Gentex during the first quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after buying an additional 2,299 shares in the last quarter. Arax Advisory Partners acquired a new position in shares of Gentex in the 4th quarter worth approximately $52,000. Employees Retirement System of Texas bought a new position in shares of Gentex during the 4th quarter worth approximately $56,000. Finally, Clearstead Advisors LLC boosted its stake in Gentex by 21.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after buying an additional 437 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GNTX. UBS Group restated a “neutral” rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. B. Riley Financial reissued a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gentex has an average rating of “Hold” and an average target price of $27.00.

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.55% of the stock is owned by corporate insiders.

Gentex Stock Up 0.4%

NASDAQ:GNTX opened at $23.45 on Tuesday. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The stock’s 50-day simple moving average is $24.53 and its 200 day simple moving average is $23.49. The firm has a market capitalization of $4.99 billion, a PE ratio of 12.41 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The firm had revenue of $651.30 million during the quarter, compared to the consensus estimate of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, analysts anticipate that Gentex Corporation will post 1.99 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio is presently 25.40%.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).